The Supervisory Board and Board of Management of Daimler AG have reached an agreement on the future appointments to the boards of Mercedes-Benz AG and Daimler Truck AG. Both bodies aim to appoint Ola Källenius as the future Chairman of the Board of Management of Mercedes-Benz AG, in which role he will be responsible for the global activities of the Cars and Vans divisions. As resolved by the Supervisory Board on September 26, 2018, he is also to assume a dual role as Chairman of the Board of Management of Daimler AG as the parent company.

The Supervisory Board and Board of Management of Daimler AG are also seeking to appoint Martin Daum as the future Chairman of the Board of Management of Daimler Truck AG. He will continue to be a member of the Board of Management of Daimler AG, responsible for the Daimler Trucks & Buses divisions. In future, Daimler Truck AG will be responsible for the global truck and bus business.

The Board of Management and Supervisory Board of Daimler AG had already decided in July 2018 to transform the former Cars and Vans and Trucks and Buses divisions into legally independent units through a spin-off. In the course of this project, two new operating stock corporations will be created under the umbrella and management of Daimler AG: Mercedes-Benz AG for the Cars and Vans divisions and Daimler Truck AG for the Trucks and Buses divisions. The final decision on the new corporate structure will be taken by the shareholders at the Annual General Meeting of Daimler AG on May 22, 2019. Daimler Financial Services AG, which is already legally independent today, will operate as Daimler Mobility AG from July 2019.

Mercedes-Benz AG and Daimler Truck AG will be co-determined German stock corporations based in Stuttgart. Once the spin-off takes effect, the Supervisory Boards of both companies will each consist of 20 members, ten of whom will be shareholder representatives and ten of whom will be employee representatives.

If the spin-off is approved by the shareholders at the Annual General Meeting of Daimler AG on May 22, 2019, it is intended that the Supervisory Board of Mercedes-Benz AG and the Supervisory Board of Daimler Truck AG will decide on the composition of the Boards of Management, probably in September 2019. The Supervisory Boards of both companies are to be increased to 20 members each before the spin-off takes effect. To this end, election proposals have been agreed with the employee representatives. The ten nominated shareholder representatives will be elected at the Annual General Meetings of Mercedes-Benz AG and Daimler Truck AG in September 2019.